7.2 \*\*Policy Terms\*\*. Any policies of insurance carried in accordance with
this Section 7 and any policies taken out in substitution or replacement of
any such policies shall (a) be endorsed to name Lessor as an additional
insured as its interests may appear (but without responsibility for premiums),
(b) provide, with respect to insurance carried in accordance with Section
7.1(b) or (c) above, that any amount payable thereunder shall be paid directly
to Lessor as sole loss payee and not to Lessor and Lessee jointly, (c) provide
for thirty (30) days’ (seven (7) days’ in the case of war, hijacking and
allied perils, and ten (10) days in the case of cancellation for non-payment
of premium) prior written notice by such insurer of cancellation, material
change, or non-renewal, but failure to do so shall impose no obligation or
liability of any kind upon the insurer, its agents or representatives, (d)
include a severability of interest clause providing that such policy shall
operate in the same manner as if there were a separate policy covering each
insured, but the inclusion of such additional interests shall not operate to
increase the insurer’s limit of liability, (e) waive any right of set-off
against Lessor, and any rights of subrogation against Lessor, (f) provide that
in respect of the interests of Lessor in such policies, that the insurance
shall not be invalidated by any action or inaction of any Lessee Party or any
other Person operating or in possession of the Aircraft, regardless of any
breach or violation of any warranties, declarations or conditions contained in
such policies by or binding upon Lessee or any other Person operating or in
possession of the Aircraft, and (g) be primary, not subject to any co-